08:52 AM EDT, 09/19/2025 (MT Newswires) -- 1911 Gold ( AUMBF ) Friday said it intends to sell, on a "best efforts" private placement basis, any combination of common shares for up to C$10.2 million.

The company said the issuance will consist of common shares (LIFE Non-FT shares) at $0.45 each, common shares which qualify as "flow-through shares" and qualify as "Canadian exploration expenses" (CEE Offered shares) at $0.64 per CEE offered share, and common shares which qualify as "flow-through shares" and as "accelerated Canadian development expenses" (CDE Offered shares) at $0.554 per CDE Offered share.

Lead agent and sole bookrunner, Haywood Securities, on its own behalf and on behalf of the agents, agreed to sell, on a "best-efforts" private placement basis, up to 6.1-million common shares (PP Non-FT shares) at $0.45 for $2.7 million. The offering combines proceeds to the company of up to $12.9 million.

The company has also granted the agents an option to sell up to an additional 15% of the marketed offering in any combination of offered shares at their respective issue prices. The net proceeds from the sale of the Non-FT shares will be used for general corporate and working capital needs.

The agents' option and the marketed offering are expected to close on or about October 15.

Shares of the company closed up 1.9% to $0.54 on the TSX Venture Exchange Thursday.